Novo’s Ozempic, Wegovy Targeted for Medicare Price Cuts (3)

The US plans to slash the price it pays for the Novo Nordisk A/S blockbusters Ozempic and Wegovy, the latest drugs to be targeted under legislation that’s expected save the government more than $200 billion over a decade.

Novo’s treatments for obesity and diabetes headline the government’s list of medicines that will be subject to price negotiations over the next year as part of a Biden administration effort to reduce drug costs for the Medicare health program for seniors.

Novo’s American depositary receipts were down 4.7% as of 11:14 a.m. in New York.

It’s the latest in a string of ...